Macau businessman wants to set up bank in Cabo Verde

6 June 2017

Macau businessman David Chow has signed a memorandum with the Cape Verdean government to set up a bank branch in the archipelago, Portuguese-language newspaper Tribuna de Macau reported on Tuesday.

Chow’s company, the “Legend Globe Investment Company” has six months to present to the Bank of Cape Verde (Cabo Verde) the formal application and the project to set up Banco Sino-Atlântico, the newspaper said.

The memorandum was one of seven agreements signed on 31 May during the “Summit on the Construction of the Service Platform for Trade Cooperation between China and the Portuguese-speaking Countries of Macau, supported by Chinese State Enterprises,” an event that took place in the territory, organized by the Macau Trade and Investment Promotion Institute (IPIM) with the support of entities linked to the central government of China.

This will be Chow’s second investment in Cabo Verde, as he is building a tourist project in Praia, comprising a tourist resort, marina, convention centre and casino, works for which began in February 2016.

This project is under the umbrella of the Macau Legend Development group, of which Chow is also the chairman. (macauhub)